Mexican Beef Processor in $450 Million Loan Deal16 September 2013
MEXICO - SuKarne, Mexico’s leading producer and exporter of beef, has signed a Syndicated Loan Agreement with a consortium of international and local banks for $450 million.
The company’s processing plant, the largest of its kind in Mexico for the meat industry, was completed in record time and reflects the financial sector’s confidence in SuKarne’s business strategy and development.
The loan agreement is aimed to support the Company’s international growth, expansion and export strategy.
Arrangers of the Syndicated Loan are Rabobank International, BBVA Bancomer, Banamex (Citi), Societé Générale and Bancomext.
“With this operation SuKarne reaffirms its leadership in the global meat industry and consolidates its future abroad,” said Jesus Vizcarra Calderon, Chairman.
SuKarne, founded 44 years ago, is today, the largest Mexican company in the global market for animal protein and the fifth largest beef supplier in North America.
With sales in excess of $2.1 billion and exports of US$700 million, SuKarne is the source of income for about 10,000 families, more than 40,000 customers, micro-entrepreneurs mostly, and approximately 100,000 agricultural and livestock suppliers that integrate the SuKarne supply chain.
Besides being the largest producer, importer and marketer in Mexico, at the same time SuKarne accounts for 75 per cent of the country's meat exports and is the leading supplier of supermarkets.
TheMeatSite News Desk